LeasePlan sold to consortium for €3.7 billion

Dutch vehicle management company LeasePlan is being sold to a consortium including the Abu Dhabi Investment Authority and Goldman Sachs for €3.7 billion.

The company is currently owned by joint venture Global Mobility Holding BV, which comprises of Volkswagen, Fleet Investments BV and German bank Meltzer who each hold an indirect stake in 50 per cent of the company. The sale comes a few months after talks had previously broken down between LeasePlan’s owners and another unnamed consortium.

The Consortium acquiring LeasePlan is composed of a group investors, including leading Dutch pension fund service provider PGGM, Denmark’s largest pension fund ATP, GIC, Luxinva SA, a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), the Merchant Banking Division of Goldman Sachs and investment funds managed by TDR Capital LLP.

Eric-Jan Vink of PGGM, on behalf of the consortium, said: “As market leader in the global fleet management business, LeasePlan offers an attractive long-term investment opportunity. We are investing in the future of a company with an unmatched portfolio of market-leading assets, a highly knowledgeable and dedicated employee base and a sound strategy for the future, under highly experienced management. The Consortium looks forward to supporting the management team as they focus on growing the business.”

Vahid Daemi, CEO and chairman of the managing board of LeasePlan, said: “The change of ownership announced today marks a new era for our company and will enable LeasePlan to continue our successful journey and focus on executing our long-term strategy and growth ambitions.

“We remain fully committed to providing high quality and innovative fleet management and driver mobility services to our clients worldwide.”

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